The repair Budget to defuse a financial timebomb
Chancellor Jeremy Hunt’s key message this week will be about restoring stability and controlling price rises. …
But a consequence of the OBR’s glum draft forecasts for the state of an economy – hit by the pandemic, the Ukraine war, and some aspects of Brexit – is a slower one, hit with tax revenues, higher spending, and higher interest payments on debts. All that means the UK’s stock of debt would be on the rise in a few years’ time. That goes against this Government’s self defined targets for “responsible” finances.
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